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Associate Bonus Watch: McDermott Will & Emery is Sticking to the Plan … For Now

McDermott logo.JPGWe’ve gotten the first hard numbers of the 2008 bonus season, in part. McDermott Will & Emery has announced that they will pay their associates the bonus advance they were expecting. A firm-wide email announced the relatively positive news:

December Bonus Advances: As we have previously communicated, the following payments will be made in mid-December to Associates who are on target to receive a bonus: (a) $10,000 for Associates in the class of 2006 or 2007, (b) $15,000 for Associates in the class of 2004 or 2005 and (c) $20,000 for Associates in all other classes. The determination of whether an Associate is on target for a bonus will be made by the ACC using the CPAs and the general evaluation criteria already described in prior presentations and communications by the Compensation Committee. For some Associates, the December payment may be the only bonus the Associate receives. The bonus determined by the ACC to be paid in March, 2009 will be reduced by any advance received in December.

That’s good news to the attorneys that are on target to make their hours. That’s almost everybody, right? Many people have pointed out that bonuses might be depressed this year, not because firms will be offering less money, but because many associates are struggling to make their hours.

The other wrinkle here is that MWE is leaving the door open on what their “final” bonus package will look like. They could match last year’s market, or not. There is a lot of time to read the market between now and March.

Still, $10K - $20K just in time for holiday shopping is a good thing for those on track. And if you’re low on hours, this you at least know for sure that there is at least some money available to you if you can make up the hours in the fourth quarter.

Congrats and good luck, MWE associates.

Read the full memo after the jump.

MCDERMOTT WILL & EMERY — MEMO — BONUS NEWS

The Associate Review Committees have completed their evaluations of the Associates across the Firm and the in-person performance evaluation meetings will soon begin to be scheduled. Below is a quick summary of what you should expect.

1. Evaluation Meeting: A member of the local ARC along with your Local Department Head or one of his or her designees will deliver the in-person performance evaluations. All evaluation meetings will be scheduled sometime between November 17 and December 19, 2008 so that all reviews should be completed before the end of the year. If you have not been contacted to schedule a meeting by the Thanksgiving holiday, please contact your local ARC Chair (listed below) or feel fee to call one of us.

2. Comprehensive Performance Assessment (“CPA”): Prior to your meeting, you will receive a copy of your CPA prepared by your ARC. The focus of the meeting is to review with you the ARC’s assessment of your performance as represented on the CPA. The following are some general points to keep in mind:

* For each evaluation category, the Excellence Standard score (“ES Score”) (against which the ARC measured your performance) is the score that an Associate at the same level of seniority would receive if the Associate’s performance were viewed by the ARC as meeting the Firm’s standard of excellence.

* The scores were determined by the ARC in its judgment after reviewing the evaluations submitted by partners and conducting any independent due diligence it felt was necessary.

* The core purpose of the CPA is to communicate to you how you performed relative to the standard in each of the ten categories scored by the ARC. Scoring in this detailed manner is intended to help you understand your relative strengths and weaknesses. In addition, for areas of weakness or where improvement is needed, the scoring is intended to provide a measure of how far below the standard you may be in those areas so that you can seek guidance for how to improve.

3. Promotion Candidates: Promotion decisions will be announced Firm-wide on November 17.

4. December Bonus Advances: As we have previously communicated, the following payments will be made in mid-December to Associates who are on target to receive a bonus: (a) $10,000 for Associates in the class of 2006 or 2007, (b) $15,000 for Associates in the class of 2004 or 2005 and (c) $20,000 for Associates in all other classes. The determination of whether an Associate is on target for a bonus will be made by the ACC using the CPAs and the general evaluation criteria already described in prior presentations and communications by the Compensation Committee. For some Associates, the December payment may be the only bonus the Associate receives. The bonus determined by the ACC to be paid in March, 2009 will be reduced by any advance received in December.

Comments

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1 Posted by guest | Permalink Monday, November 10, 2008 5:50 PM

first! HAHAHAHA

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2 Posted by guest | Permalink Monday, November 10, 2008 5:51 PM

$15k for Class of 2004? Last year was $65k!

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3 Posted by guest | Permalink Monday, November 10, 2008 5:54 PM

My god, how many defined terms and acronyms can they possibly squeeze into a single document?

Here's a hint for McDermott lawyers: Good writers make the meaning of their words clear the context. Bad writers invent meaningless acronyms and defined terms that make reading impossible. Knock off a couple of dollars from everyone's bonus and send the author of this "memo" to a writing workshop.

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4 Posted by guest | Permalink Monday, November 10, 2008 5:56 PM

thank god my firm has lockstep bonuses with no minimum hours

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5 Posted by guest | Permalink Monday, November 10, 2008 5:57 PM

"if you're low on hours, this you at least know for sure that there is at least some money available to you if you can make up the hours in the fourth quarter."

What the hell is the matter with you?

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6 Posted by guest | Permalink Monday, November 10, 2008 6:01 PM

#3 should attend a proofreading workshop, which would improve his/her snarky, self-important rants

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7 Posted by guest | Permalink Monday, November 10, 2008 6:02 PM

2:

those aren't the bonus amounts. those are the amounts available to associates as advances based on their perceived bonus eligibility.

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8 Posted by guest | Permalink Monday, November 10, 2008 6:11 PM

MWE has also been rescinding SA offers in their DC office.

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9 Posted by guest | Permalink Monday, November 10, 2008 6:11 PM

does anyone have information on blank rome's typical bonus?

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10 Posted by guest | Permalink Monday, November 10, 2008 6:17 PM

WLRK, Cravath and S&C will all meet last year's bonus levels, including special.

The rest of you, good luck. You'll need it.

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11 Posted by guest | Permalink Monday, November 10, 2008 6:21 PM

Agree w/ 5. Horrible writing, Elie.

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12 Posted by guest | Permalink Monday, November 10, 2008 6:21 PM

If Cravath and S&C are matching last year's bonus numbers, then a number of firms are going to match as well (simpson, weil, milbank, etc.)

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13 Posted by guest | Permalink Monday, November 10, 2008 6:31 PM

I feel like I already got my bonus this year - not working at MWE.

-GW 3L

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14 Posted by guest | Permalink Monday, November 10, 2008 6:44 PM

I vote #5 takes over for Elie.

On a side note just to Elie: While typing the above sentence my fingers missed the correct key and typed "takrs" rather than "takes." Instead of posting a non-word and hoping people would figure out what I meant, I utilized the lovely keys known as "Backspace" and "Delete" and FIXED MY GODDAMN MISTAKE BEFORE POSTING.

While my grammar and spelling are far from perfect, my 10 year old brother could do better than you. You should be ashamed.

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15 Posted by guest | Permalink Monday, November 10, 2008 6:47 PM

Kirkland will once again SHATTER the market bonus, with its particular strength in countercyclical practice areas (IP, restructuring, litigation)

FYI, Kirkland pays above NY bonus (this includes the pitiful special bonus paid by mere mortal firms like Cravath) in all its offices.

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16 Posted by guest | Permalink Monday, November 10, 2008 6:54 PM

15: But of course, not everyone earns the market shattering bonus and and at Kirkland it's possible to earn a bonus below market.

At other V10 firms, everyone in good standing gets market bonus. That's the difference.

Basically at Kirkland, 2400 hours will get you the market shattering bonus. But 1800-2000 hours? Way below market bonus.

At Weil, STB, etc 2000 still gets you market bonus.

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17 Posted by guest | Permalink Monday, November 10, 2008 7:05 PM

While I agree that the top handful of firms will pay last year's bonus levels, if you think STB is going to pay at that level after the beating they took in 2008, think again.

The firm that took NYC to $160,000 will be hard pressed to pay any lockstep bonus this season, much less starting every single one of their first years at $45,000!

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18 Posted by guest | Permalink Monday, November 10, 2008 7:07 PM

How much is Kirkland's market shattering bonus?

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19 Posted by guest | Permalink Monday, November 10, 2008 7:09 PM

Dechert has announced the bonus structure for this year is that every associate who wa/is on track to make bonus has been or will be fired. Have a nice day. s/Bart

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20 Posted by guest | Permalink Monday, November 10, 2008 7:12 PM

So class of 2003 only gets $20,000??!!!

Outrage!!

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21 Posted by guest | Permalink Monday, November 10, 2008 7:13 PM

Nothing better than a grifter. Hope you all get canned soon.

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22 Posted by guest | Permalink Monday, November 10, 2008 7:15 PM

MWE: another firm that has jarvis probed our class.

-CLS 2L

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23 Posted by guest | Permalink Monday, November 10, 2008 7:25 PM

Anyone familiar with Boies, Schiller, & Flexner's bonus system?

From what I understand, unless you bill crazy hours at BSF, you won't get a significant bonus. At other top firms like STB, Weil, DKP... firms that are lockstep, you can bill 2000 and get a nice bonus. Is this an accurate impression?

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24 Posted by guest | Permalink Monday, November 10, 2008 7:43 PM

So, should I go to Goodwin Boston, MWE DC, or Kirkland NY?

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25 Posted by guest | Permalink Monday, November 10, 2008 7:44 PM

13 - what's wrong with MWE?

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26 Posted by guest | Permalink Monday, November 10, 2008 7:48 PM

Cravath and S&C (maybe Weil, probably not STB, WLRK off in its own world) will, at a minimum, meet Orrick's already announced bonus structure--awarding up to $45,000 for first years. While that's a discretionary amount at Orrick, top firms are lock step for all associates in good standing. Read my lips: there is NO WAY that first years at S&C or Cravath will get paid less than they COULD have made as first years at a relatively mediocre firm like Orrick.

Basically, the best firms will pay bonus at the same rates, including "special," that they did last year. The real question this year will be who is expected to match, but won't: places like CWT, STB, FF, etc. Serious stratification is coming, kiddies . . . probably to a firm near you!

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27 Posted by guest | Permalink Monday, November 10, 2008 7:49 PM

who does number 2 work for?

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28 Posted by guest | Permalink Monday, November 10, 2008 7:53 PM

Boies, Schiller, & Flexner's bonus is directly tied to hours. One you're over a certain hurdle you get some $ amount extra for every additional hour billed. If you're a workaholic there's no better place (except WLRK maybe).

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29 Posted by guest | Permalink Monday, November 10, 2008 7:55 PM

9 - alreadybored.com for Blank Rome's bonus structure [not sure how current it is]

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30 Posted by guest | Permalink Monday, November 10, 2008 8:00 PM

Last year, class of 2006 bonuses at Kirkland ran $45-80k.

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31 Posted by guest | Permalink Monday, November 10, 2008 8:18 PM

How much are bonuses at normal firms (amlaw 50-100) in non-NY markets? Just curious

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32 Posted by guest | Permalink Monday, November 10, 2008 8:23 PM

Normal firms? Outside NYC?

WGAFF?

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33 Posted by guest | Permalink Monday, November 10, 2008 8:23 PM

Does Waco Christian University of Texas Law School have a competitive edge in markets like Dallas and St. Louis?

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34 Posted by guest | Permalink Monday, November 10, 2008 8:26 PM

No way that Milbank will match this year. Sad since they used to be a "market leader".

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35 Posted by guest | Permalink Monday, November 10, 2008 8:26 PM

"And if you're low on hours, this you at least know for sure that there is at least some money available to you if you can make up the hours in the fourth quarter."

First, poor grammar.

Second, MWE's year ended on Sep. 30th. So, if you were trying to say that hours billed between now and the end of the year are considered for this year's bonus, you are wrong.

Third, MWE did the same thing last year, only without telling associates that a follow-on payment was coming in March. (Associate dissatisfaction led to the supplemental bonus payment.)

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36 Posted by guest | Permalink Monday, November 10, 2008 8:30 PM

Is the Williams and Connolly thing true?

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37 Posted by guest | Permalink Monday, November 10, 2008 8:31 PM

MWE DC is oversubscribed.

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38 Posted by guest | Permalink Monday, November 10, 2008 8:35 PM

When the hell has Williams & Connolly been mentioned here??

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39 Posted by guest | Permalink Monday, November 10, 2008 8:45 PM

i'm nervous about the Williams and Connolly thing.

nervous T-10 1L
-please send all SA spots to nervoust101l@yahoo.com

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40 Posted by guest | Permalink Monday, November 10, 2008 9:02 PM

Elie, I really think your writing will improve if you stop trying to make witty comments in each sentence. I am not suggesting that you completely halt all personal interjections, but simplify . . . and reap the rewards.

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41 Posted by guest | Permalink Monday, November 10, 2008 9:07 PM

Goodwyn Boston Hands down. You will be working with all the ex MWE people.

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42 Posted by guest | Permalink Monday, November 10, 2008 9:10 PM

25, take a look at the Vault comments, for a start. The firm treats people like crap. They have no loyalty to those who have been loyal to them. STAY AWAY AT ALL COST.

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43 Posted by guest | Permalink Monday, November 10, 2008 9:23 PM

41 - is that supposed to be a good thing?

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44 Posted by guest | Permalink Monday, November 10, 2008 9:35 PM

33-There is no such school in Waco. Do you mean TCU?

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45 Posted by guest | Permalink Monday, November 10, 2008 9:43 PM

26 - How do you go from STB being unable to be the pace setter they were to STB being unable to keep up with Orrick? You can make and argument that fell back from the lead pack in the V10, but there is no argument that they fell behind the back half of the V10, let alone all the way to Orrick's level.

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46 Posted by guest | Permalink Monday, November 10, 2008 10:10 PM

I hear that cahill always pays market bonus in NY. Will they match this year?

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47 Posted by guest | Permalink Monday, November 10, 2008 10:11 PM

Forget the V10, its basically meaningless. Also, does anyone know how many people from Fried Frank got the special bonuses last year? I recall that they moved away from being a stright-up lockstep firm to paying out the special on a "discretionary" basis.

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48 Posted by guest | Permalink Monday, November 10, 2008 10:42 PM

24,

kirkland ny

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49 Posted by guest | Permalink Monday, November 10, 2008 10:49 PM

Elie, give us a story about the Williams and Connolly thing!

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50 Posted by guest | Permalink Monday, November 10, 2008 10:50 PM

The MWE corporate people who went to Goodwin are very nice and good lawyers. They represent what used to be good about MWE and associates would be lucky to work with them.

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51 Posted by guest | Permalink Monday, November 10, 2008 10:57 PM

In my experience, McDermott will look for every possible loophole to avoid paying an extra dime. The firm also will do all it can to pay associates that do hit their hours because they will want the good press that comes from doing so. I expect to see a mixed bag of opinions as bonuses become clear.

Some bonuses will be retention bonuses for groups that were gutted (IP?).

Promotions will be bad.

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52 Posted by guest | Permalink Monday, November 10, 2008 10:59 PM

37, by how many? What offices?

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53 Posted by guest | Permalink Monday, November 10, 2008 11:15 PM

44, 33 was making a sarcastic reference to Baylor.

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54 Posted by guest | Permalink Monday, November 10, 2008 11:17 PM

Moronic partners make me so effing mad. Ever had a partner make an argument that is so wrong that it is difficult to explain why? I long for the day I can say "that is the most monumentally stupid thing I have ever heard, fuckwit."

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55 Posted by guest | Permalink Monday, November 10, 2008 11:41 PM

@46: Cahill always matches, this year will be no different.

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56 Posted by guest | Permalink Monday, November 10, 2008 11:43 PM

34 - What is it you have against milbank? Why are you grinding that axe? Milbank is doing fine. This year wasn't a repeat of last year, but not every year can be the best year on record. I see no reason why Milbank wouldn't match bonuses. They always have. They have almost never been a "market leader." Once, when everyone else was sitting on their asses and it was way up in december, Milbank announced first. I'm sure if no real announcements are forthcoming, Milbank will do it own thing again, but I'm sure the executive committee would perfer to just follow the market.
Stop hating on Milbank.

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57 Posted by guest | Permalink Monday, November 10, 2008 11:47 PM

24: kirkland NY

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58 Posted by guest | Permalink Monday, November 10, 2008 11:54 PM

This is all very interesting, but what about the Skadden-DC rumors?

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59 Posted by guest | Permalink Tuesday, November 11, 2008 12:04 AM

58 -
Skadden DC is just trimming its ranks at a faster pace than firms like STB and Latham. Those laid-off associates will be fine.

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60 Posted by guest | Permalink Tuesday, November 11, 2008 12:14 AM

Elie, let us know what happens w/ Kirkland bonuses this year. The market seems to have affected them less than other firms, but I'm curious to know -- will they match last year's bonuses in non-NY offices?

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61 Posted by guest | Permalink Tuesday, November 11, 2008 12:14 AM

OMG WORLD = END; EVERYBODY GO DIE (Except for V10).

PlsHndlThx
Dear Marin, My favorite blog (blawg) sucks. What partner should I sleep with to correct this.
KThxBye

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62 Posted by guest | Permalink Tuesday, November 11, 2008 12:15 AM

16:
2000 at KE will still give NY market bonus (including special), and above market if you get above/top of class ratings

you can expect to make much more than NY bonus at 2200. 2500+, bonuses actually start getting closer to WLRK levels than the rest of the NY market.

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63 Posted by guest | Permalink Tuesday, November 11, 2008 12:17 AM

Any idea if Paul Weiss will keep up with bonuses at S&C, Cravath, etc.?

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64 Posted by guest | Permalink Tuesday, November 11, 2008 12:24 AM

62 - 2500+ does not get you a WLRK-type bonus. Yes, it will be well above a NY market bonus, but it will not approach a 1x bonus.

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65 Posted by guest | Permalink Tuesday, November 11, 2008 1:04 AM

27 --

“That’s right buddy! You show that turd who’s boss!”

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66 Posted by guest | Permalink Tuesday, November 11, 2008 1:07 AM

64 is right; no firm matches WLRK. The closest I've heard of is a K&E midlevel making a $140k bonus for 2450hrs.

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67 Posted by guest | Permalink Tuesday, November 11, 2008 4:24 AM

Who cares about bonuses? I want to hear about that great game they are playing at CLS. More posts about that, please.

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68 Posted by guest | Permalink Tuesday, November 11, 2008 7:12 AM

As to Paul Weiss and some of the other lockstep, NYC firms, I'd say anyone with PPP over $2 million last year will match the market rate.

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69 Posted by guest | Permalink Tuesday, November 11, 2008 8:00 AM

14 - you should really think about your own writing before trashing someone else's. Your last paragraph is atrocious.

"While my grammar and spelling are far from perfect, my 10 year old brother could do better than you. You should be ashamed."

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70 Posted by guest | Permalink Tuesday, November 11, 2008 8:06 AM

TPW has announced bonuses equal to or greater than last year's bonus.

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71 Posted by guest | Permalink Tuesday, November 11, 2008 9:05 AM

this is good news. those who meet hours are worth their pay and bonii. those who don't suck ass and should be fired. biglaw is not the Communism the republiKKKans fear after all, but a true market based meritocracy.

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72 Posted by guest | Permalink Tuesday, November 11, 2008 9:35 AM

#42 - The Vault comments on MWE in the Best Firms 2009 and Best DC Firms of 2009 publications are pretty positive.

Is there another Vault source that we should be reviewing for information on this firm?

Thanks in advance - Let the flames begin.

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73 Posted by guest | Permalink Tuesday, November 11, 2008 9:40 AM

72 - I have the same question - what is the best source of inside info on a firm? The Vault guides are pretty generic, and this site is not as informative as it once was.

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74 Posted by guest | Permalink Tuesday, November 11, 2008 10:01 AM

#35 - Try Again: MWE switched to a calendar year this year.

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75 Posted by guest | Permalink Tuesday, November 11, 2008 10:05 AM

You want to review the strings on this site that followed the Vault post. Much more detail on the pros and cons of the firm.

Summary: Tax is good, avoid IP and Corporate, Litigation is ok and regulatory is ok but really depends on the group because the leaders in each group are weird and there is no predicting how you will fit in with their weirdness. If you are a student, firm is ok as a place to start if you cannot find anything else, but have a plan to leave. Bad place to go as a lateral unless you get all promises in writing, including bonus, promotion etc. Firm loves to say we will recommend something, but you should negotiate for firm shall promote you, pay you, etc.

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76 Posted by guest | Permalink Tuesday, November 11, 2008 10:07 AM

74: This year is a hybrid as the firm transitions. Either/both count

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77 Posted by guest | Permalink Tuesday, November 11, 2008 10:14 AM

#75 - Thanks very much. I have summer offers in DC at MWE and Crowell and am on the fencepost. They both seemed great, but I know to take that with a grain of salt. The associates I spoke with seemed happy, but maybe they were just doing a good job of masking their revulsion. Will check this site for the MWE info. Doesn't seem to be a whole lot on Crowell.

And I don't give a shit which one is more prestigious. I'm looking for future opportunity within the firm and quality of life (such as it may be in Biglaw).

Thanks again.

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78 Posted by guest | Permalink Tuesday, November 11, 2008 10:18 AM

Firms are going to announce that bonuses will be the same as last year- but most firms have billing requirements (only top tier firms have lock step not tied to hours). Most of my colleagues (in my firm and others) will not even make minimum hours.

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79 Posted by guest | Permalink Tuesday, November 11, 2008 10:19 AM

59: There has not been any trimming at Skadden DC.

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80 Posted by guest | Permalink Tuesday, November 11, 2008 10:26 AM

24,

Goodwin Boston or Kirkland, not MWE

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81 Posted by guest | Permalink Tuesday, November 11, 2008 10:28 AM

77: MWE is not a quality of life firm. There is pressure to bill, and by that I mean not just meeting 2000 but more like meeting the unwritten 2200 or more that makes the firm value the associate. If you make any noise about quality of life, that is code at MWE for weak link. Partners will look down at you. I have heard associates say that they met the 2000 requirement and heard ARC and other partners say that is nice but not enough to be a star.

I don't know how healthy Crowell is. MWE is probably a safe pick but expect to work hard if you want to get ahead.

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82 Posted by guest | Permalink Tuesday, November 11, 2008 10:30 AM

64, 66:

1) I've seen 6th years getting 160k bonus
2) I said closer to WLRK than Cravath, not that it matches WLRK, but rather that it crosses the midpoint between the two.
3) 2450 for 140k bonus is pretty good when you consider that average Cravath associates bill about that (and make far less), and WLRK associates bill 2700 on average (which likely would lead to 160k+ bonus at KE midlevels, especially with above average ratings).

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83 Posted by guest | Permalink Tuesday, November 11, 2008 10:37 AM

77: I summered at MWE DC last year and will be returning next fall. Out of our class of 27, I only know of 2 who for sure got non-offered, and any member of the summer class could have predicted those two. I don't know how many got cold offers. Of the rest, I know 16 who accepted offers, including several who split the summer with other firms, and a few who accepted offers at other MWE offices.

All that said, it wasn't a lazy summer by any means (accept for the non-offers). The key at this point is of course to find a group you fit in with and that has work for you, whatever firm it may be.

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84 Posted by guest | Permalink Tuesday, November 11, 2008 10:40 AM

77, I did due dilligence on Crowell when looking at commercial litigation firms in D.C., and I liked what I saw w/r/t work, clients, and future opportunity. I went NYC early on, though, so I never got a feel for the people.

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85 Posted by guest | Permalink Tuesday, November 11, 2008 10:46 AM

Lock-step bonuses are definitely a good insurance policy. But those firms do this for a reason (much like anything else): I believe it's rare to find someone billing under 2000 hours at a lock-step firm. Basically, if you bill the same hours at a billable hour conscious firm that you would bill at a lock-step firm, your bonus will be exactly the same. You'll just avoid the agita of not knowing for sure what you're getting. but at least at a billable hour conscious firm you have the option of not billing your life away and staying human. I am not sure that's a choice at a lock-step place.

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86 Posted by guest | Permalink Tuesday, November 11, 2008 10:56 AM

81/83/84 - Thanks for your comments. They are very helpful - particularly the comment regarding hours. Crowell states that they have a 1900 minimum billable, but, again, that is the public statement. Not sure what the "real" number is. But if 2200 is the real number at MWE, then I might have to move along to Crowell, as I want to practice environmental/regulatory, and those types of hours are hard to get, so I am told.

When you mentioned due diligence on Crowell, what other sources did you access besides Vault and any personal contacts? Is there another trove of information out there to which I should be looking?

Thanks again to all - apologies for airing my own personal decision matrix here, but these responses are really, really fucking helpful to me.

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87 Posted by guest | Permalink Tuesday, November 11, 2008 11:04 AM

Crowell has a good antitrust practice

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88 Posted by guest | Permalink Tuesday, November 11, 2008 11:10 AM

Crowell has picked up several MWE attorneys who are apparently pretty happy with their new digs.

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89 Posted by guest | Permalink Tuesday, November 11, 2008 11:12 AM

Second week at Crowell: stayed till 11pm for three nights.

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90 Posted by guest | Permalink Tuesday, November 11, 2008 11:13 AM

Don't forget to put a cover sheet on your CPA reports. Didn't you get the memo?

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91 Posted by guest | Permalink Tuesday, November 11, 2008 11:50 AM

69: That's why I didn't compete on ATL Idol and am not a writer for this site. I save perfect writing for, you know, important shit like briefs and etc. Grow the fuck up.

-14

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92 Posted by guest | Permalink Tuesday, November 11, 2008 11:55 AM

I always thought I was going into government/non-profit work but was unable to find a job there and so am now at a med-large firm. Thus, I never really paid attention to stuff like bonuses. Now, however, I'm curious, do recent grads get bonuses? Obvs., they'd be smaller since we only worked 1/2 the year as actual attorneys, but...hell, I've billed a ton of hours in the last 6 months!

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93 Posted by guest | Permalink Tuesday, November 11, 2008 12:02 PM

85, I have known plenty of people, litigation and corporate, at the two lockstep firms I have worked at who bill at or under 2000 hours. When firms have tons of litigation associates it is easy to get lost and hide, particularly for years 1 and 2, and when corporate is really slow, like it is now, they still pay the same. None of these people were interested in making partner so it didn't really matter to them that they weren't billing crazy hours all of the time. I think it's the people at the non-lockstep firms that have to bill 2200+ hours who are the ones that really get screwed.

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94 Posted by guest | Permalink Tuesday, November 11, 2008 12:03 PM

Dear 90:

It's TPA reports. Funny, almost. Get it right next time...

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95 Posted by guest | Permalink Tuesday, November 11, 2008 12:06 PM

People -- the amounts noted in the memo are just advances, not the final bonuses. Learn to read.

Anyone who thinks you can be a "star" associate at any AmLaw 100 firm while billing only 2,000 hours, unless you are in an obscure speciality practice, is delusional. Apart from work ethic and dedication, you have to show demand for your services, the proxy for which -- as an associate -- is billable hours. Duh.

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96 Posted by guest | Permalink Tuesday, November 11, 2008 12:09 PM

A number of people believe that we'll see the top of market firms separate themselves from the rest of the pack this year. Setting aside the firms that are in a class of their own (WL), what firms do you think will be in the top of market basket this year: S&C, Cravath, DP, Cleary, D&P ...? Are most people expecting these top of market firms to match last year's bonuses?

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97 Posted by guest | Permalink Tuesday, November 11, 2008 12:16 PM

Why do you need to be a "star" if you're not making partner? Why work yourself to death for something that's not happening? And why not go to a lockstep market paying firm and at least get paid well?

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98 Posted by guest | Permalink Tuesday, November 11, 2008 12:23 PM

95: you are wrong. my firm is 1900. if you hit 2000, you are a star.

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99 Posted by guest | Permalink Tuesday, November 11, 2008 12:36 PM

The most hours I ever billed was when I was a junior doing/managing document reviews. How did my hours doing work that any smart person at my firm could do = demand for my services? Did reviewing documents show the firm I was a "star"??

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100 Posted by guest | Permalink Tuesday, November 11, 2008 12:42 PM

98 -- what BIGLAW firm might that be? Do any 2,000 hour billers get promoted?

99 -- you showed dedication and loyalty, and you made the firm some money. And if you did your work badly, you would have been replaced. So yes, staying on the team = demand for services.

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101 Posted by guest | Permalink Tuesday, November 11, 2008 12:43 PM

98 -- what BIGLAW firm might that be? Do any 2,000 hour billers get promoted?

99 -- you showed dedication and loyalty, and you made the firm some money. And if you did your work badly, you would have been replaced. So yes, staying on the team = demand for services. Also, no one said that this is all that is required to be a star. It is necessary, but not sufficient. You do also need to be very good.

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102 Posted by guest | Permalink Tuesday, November 11, 2008 12:43 PM

99, that is a tough question. Partners would value that because of the revenue but good firms try not to let associates do just doc review because it is not fair to the associate. Some review is great experience. All review is not.

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103 Posted by guest | Permalink Tuesday, November 11, 2008 12:51 PM

Yes, 2000 billers get promoted.

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104 Posted by guest | Permalink Tuesday, November 11, 2008 1:18 PM

Dear 94,

You said, "It's TPA reports. Funny, almost. Get it right next time..."

In the film "Office Space," they use TPS reports, not TPA reports. My joke was using the CPA acronym in the actual post as a joke.

If you need any help with the egg on your face, please contact Elie.

Love,
90

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105 Posted by guest | Permalink Tuesday, November 11, 2008 1:50 PM

Basing an associate's value by the amount of billable hours only works at firms with blank check large corporation clients and large-scale document reviews. It is much more difficult to bill over 2000 hours in biglaw when you work for cost-sensitive clients, clients that make you give a percentage based discount, clients that don't let you bill for travel, clients that make you use contract attorneys for document review, clients that actually read their bills, etc. Basing it on number of hours also does not take into account how many arguments an associate has argued and won, how many trials they've successfully won, etc. and works best at biglaw firms that don't really give their associates those opportunities anyway.

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106 Posted by guest | Permalink Tuesday, November 11, 2008 2:04 PM

The following firms paid regular and special bonuses last year with no hours requirements whatsoever (in NYC at least, which is all that matters). Expect most to do the same again this year:

Allen & Overy
Cahill
Cleary
Clifford Chance
Covington
Cravath
Davis Polk
Debevoise
Dewey
Freshfields
Gibson Dunn
Linklaters
MIlbank
Paul Weiss
Sheaman & Sterling
Sidley
Simpson
Skadden
Sullivan
White & Case
Willkie

Very few firms on that list are hurting. Some other firms, like Kirkland and Weil, paid comparable amounts but technically have hours requirements. They'll be up there again too this year.

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107 Posted by guest | Permalink Tuesday, November 11, 2008 2:11 PM

87- Crowell has a mediocre antitrust practice at best. For antitrust in DC A&P, Cleary, Skadden, and Weil are the top practices. Hunton is on its way back with Pate. Crowell does not even have a fully designated antitrust group. Crowell may have some good lawyers, but none of their antitrust people can compare with those at the top shops.

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108 Posted by guest | Permalink Tuesday, November 11, 2008 2:24 PM

I'd add Howrey to the list for top antitrust practices in DC.

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109 Posted by guest | Permalink Tuesday, November 11, 2008 2:26 PM

The following firms paid regular and special bonuses last year with no hours requirements whatsoever (in NYC at least, which is all that matters). Expect most to do the same again this year:

Allen & Overy
Cahill
Cleary
Clifford Chance
Covington
Cravath
Davis Polk
Debevoise
Dewey
Freshfields
Gibson Dunn
Linklaters
MIlbank
Paul Weiss
Sheaman & Sterling
Sidley
Simpson
Skadden
Sullivan
White & Case
Willkie

Very few firms on that list are hurting. Some other firms, like Kirkland and Weil, paid comparable amounts but technically have hours requirements. They'll be up there again too this year.

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110 Posted by guest | Permalink Tuesday, November 11, 2008 3:05 PM

Kirkland does not have a minimum hours requirement. I know associates who were billing in the 1400-1600 range and still received between $30K and $40K bonuses. Once you are over 1800, hours are taken into consideration for how high your bonus will be (not whether you will get one at all).

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111 Posted by guest | Permalink Tuesday, November 11, 2008 3:22 PM

#77: There was a summer associate last summer who split between McDermott DC and Crowell DC, and the summer picked McDermott in the end. Personally, I had a great time at McDermott as a summer, and they seem to be on strong financial footing (and they're expanding many of their offices). I'll be going back.

Let me know if you have questions about MWE.

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112 Posted by guest | Permalink Tuesday, November 11, 2008 3:38 PM

#111 here again,

I'll second what #83 said. Our DC summer class was a great group, and the 2 no-offers were expected and were behavior-based, not work-based. Also, MWE doesn't give cold offers (according to the hiring partners), and I think everyone got an offer in one of their top-3 practice groups.

Some associates work long hours, like at any firm, but many don't. I've seen both, and people who set their own limits tend to be successful at finding balance.

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113 Posted by guest | Permalink Tuesday, November 11, 2008 4:12 PM

93,

You have a good point. You can't really hide at a non-lockstep firm and get a good bonus. I guess the moral is if you want to hide, don't go to a non-lockstep firm.

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114 Posted by guest | Permalink Tuesday, November 11, 2008 7:31 PM

111: how would you describe MWE's culture?

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115 Posted by guest | Permalink Tuesday, November 11, 2008 10:44 PM

MWE associate here: First off, kudos to all our summer associates standing up for Papa McD. If all of our associates were as loyal there would be far less fodder for all the MWE-hating flames on ATL. Certainly everyone is entitled to their own opinions, but there is really no basis for all the vitriol thrown around in these comments. MWE is a great firm with smart, caring attorneys who are genuinely friends to each other. I have law school friends at nearly every other firm in the city-- they are doc review monkeys, memo-writing lackeys, or sitting on their hands hoping not to get fired. I feel extremely lucky to be at MWE, and I had plenty of other options. So do me a favor, if you're going to hate on my firm, try to say something true in support of your position.

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116 Posted by guest | Permalink Tuesday, November 11, 2008 10:45 PM

MWE associate here: First off, kudos to all our summer associates standing up for Papa McD. If all of our associates were as loyal there would be far less fodder for all the MWE-hating flames on ATL. Certainly everyone is entitled to their own opinions, but there is really no basis for all the vitriol thrown around in these comments. MWE is a great firm with smart, caring attorneys who are genuinely friends to each other. I have law school friends at nearly every other firm in the city-- they are doc review monkeys, memo-writing lackeys, or sitting on their hands hoping not to get fired. I feel extremely lucky to be at MWE, and I had plenty of other options. So do me a favor, if you're going to hate on my firm, try to say something true in support of your position.

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117 Posted by guest | Permalink Wednesday, November 12, 2008 2:50 AM

77: 111 here again to answer your question.

MWE's Culture:

It's markedly different from the other DC firms I interviewed at (in a good way). I think it goes back to the partners who founded the DC office, two people who happen to be both really nice guys and really good lawyers. The lawyers tend to be really bright but not hung up on themselves, and the firm sticks pretty rigidly to its "no assholes" policy. If someone is a jerk and manages to get a permanent offer, they don't often last for more than a year. Facetime doesn't seem to be much of an issue, although it's easier to set your own schedule with some partners than others.

The current managing partner is conservative, but the rest of the firm isn't really. MWE represents the RNC and the Human Rights Campaign, so it's pretty comfortable on either side of the isle.

The big downside, if there is one, is that the firm is cheap, but in this economy that's probably a good thing. The firm gets a deal on Lexis, so you have to use it or get special permission to use Westlaw. The cheapness of the firm won't really bug you unless you can't stand Lexis and want all the partners' profits to go to fancy paperclips.

As was stated before, many (about 1/3) of the 2008 summers split their time, and I think everyone who split is coming back to MWE. I think that fact speaks for itself.

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118 Posted by guest | Permalink Wednesday, November 12, 2008 7:57 PM

77 -- If you're still holding offers open in this economic climate, you're an idiot. Man up and make a decision before all your offers get yanked.

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119 Posted by guest | Permalink Wednesday, November 12, 2008 8:06 PM

106 -- Really, not hurting, you say? I heard that White & Case just laid off 70 associates. So I guess they ARE doing pretty well!

Also, California weather is better -- and we get to wear jeans on Friday. Snob.

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120 Posted by guest | Permalink Thursday, November 13, 2008 7:55 PM

You can't judge the MWE by what you saw because every asshole at the firm is on their best behavior. You have no idea what kind of jerks work at the place until they back-stab you in your reviews after telling you to your face how much they love you. Ask around about the partner you love that runs the summer program....

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121 Posted by guest | Permalink Thursday, November 13, 2008 10:12 PM

MWE's "no asshole policy" - hang on i'm laughing so hard I just fell on the floor. "all asshole policy" is more like it. Anyone jocking McDermott quite simply hasn't been there long enough to figure out how shitty that place is. Haven't they suffered two massive defections in their DC office recently?

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122 Posted by guest | Permalink Thursday, November 13, 2008 11:26 PM

120/121:

No firm is perfect, and all summer associates get treated at least a little better than real associates. Everyone on this site should know that by now. Take it easy on those MWE summers; they're sticking up for the place where they accepted their offer. And it's a firm that seems to be doing ok financially--so these summers probably know how lucky they are and are happy about it.

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123 Posted by guest | Permalink Friday, November 14, 2008 8:54 AM

Small factual correction to 117's comment: MWE just got an open contract with Westlaw so we have full access to either database. The firm is fiscally conservative, for sure, but when litigators pushed for Westlaw as a better research tool, we got it. Change happens somewhat slowly, but in a firm this size and in an economy this weak, I think there's something to be said that it happens at all.

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124 Posted by guest | Permalink Friday, November 14, 2008 8:55 PM

McDermott announced income partners. Also started telling people who are off-track that they need to start looking. Three months to find something else.

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125 Posted by guest | Permalink Friday, November 14, 2008 8:59 PM

Number of income partners is about half of last year. Some disappointed people walking around the halls

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126 Posted by guest | Permalink Tuesday, November 18, 2008 6:18 PM

Dear 81,

Any associate that works for a major law firm has to hit hours. For those of you complaining about working 1600 hours or more are the one's that will float around from firm to firm for 5 or 6 years when you will finally be forced to enter another area of law or different profession. So stop your bitching and this is why you'll never make it at Weil, Kirkland, McDermott, Irell or any other biglaw.

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127 Posted by guest | Permalink Tuesday, November 18, 2008 6:21 PM

Dear 81,

Any associate that works for a major law firm has to hit hours. For those of you complaining about working 1600 hours or more are the one's that will float around from firm to firm for 5 or 6 years when you will finally be forced to enter another area of law or different profession. So stop your bitching and this is why you'll never make it at Weil, Kirkland, McDermott, Irell or any other biglaw.

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128 Posted by guest | Permalink Tuesday, November 18, 2008 6:23 PM

Dear 81,

Any associate that works for a major law firm has to hit hours. For those of you complaining about working 1600 hours or more are the one's that will float around from firm to firm for 5 or 6 years when you will finally be forced to enter another area of law or different profession. So stop your bitching and this is why you'll never make it at Weil, Kirkland, McDermott, Irell or any other biglaw.

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129 Posted by guest | Permalink Wednesday, November 19, 2008 9:37 PM

The MWE promotions have really hit the associate ranks hard. Its too bad that management doesn't realize - or appreciate - the potential to do some morale boosting by applying consistent standards fairly accross the board. Unfortunately, its the "who can you brown nose to the most" that wins - irrespective of merit and legal excellence. Just watch, the equity partner promotions will follow the same pattern - completely devoid of any rational thought. Go MWE! Too bad, I can't look for a job elsewhere with this economy.

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130 Posted by guest | Permalink Thursday, November 20, 2008 10:26 PM

If you were not promoted this year, it is time to get real about what you are doing with your career. The remainder of the message will be delivered in the size of your bonus. Small = you suck.

Capital partnership is the same thing. Alot of great attorneys kicked to the curb. If you can take business, go to a firm where you can charge a lower billable rate. Your clients will be happy to follow, especially in this environment where no one wants to pay $700 for a 10th year.

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